Insider buying and a strong analyst report of higher sales has...

Insider buying and a strong analyst report of higher sales has Unilife Corporation (NASDAQ: UNIS) up double digits for the week as major corporations in the medical equipment industry such as Baxter Corporation (NYSE: BAX) and Thermo Fisher Scientific (NYSE: TMO) are down.

Jeffries & Co. analyst Raj Denhoy began covering shares of Unilife recently with a "Buy" rating and a price target of $7 per share, stating that the company's Unifill device could appeal to many pharmaceutical companies because it could be used to extend the patent protection of some of their drugs. The share price of Unilife is now around $3.93. While Unlife Corporation is in development now, Denhoy projected $500 million in annual sales in fiscal 2016, and reach $670 million in fiscal 2017. Sales at Unilife Corporation are now around $5.24 million.

Buying from insiders and institutions is increasing. Chief Executive Officer Alan Shortall acquired 150,000 shares of this syringe and healthcare equipment manufacturer, paying $3.67 per share for a total amount of $549,988. Mr. Shortall increased his stake by 2.89% to 5,344,768 shares with this purchase. Institutions now own close to 20% of Unilife Corporation.

Now trading around $3.93 a share, the mean analyst target price for Unilife Corporation is $7.25 over the next year. The mean analyst rating for the company is very bullish at 1.70 (1 is the best and 5 is the worst). The gross margin is over 70% and earnings-per-share growth is expected to increase by more than 44% next year.

Source; http://www.smallcapnetwork.com/Unilife-up-Double-Digits-from-Insider-and-Institutional-Buying-Analyst-Recommendation-UNIS-BAX-TMO/s/via/3420/article/view/p/mid/1/id/535/